Bata India Ltd. share price target

With a 1% downside from the CMP, we maintain our HOLD rating on the stock.

Bata India (BATA) delivered yet another weak quarter with 1% YoY revenue decline (5% miss) and ~230bp YoY gross margin contraction. The weak performance was attributed to the company’s deliberate shift toward valuedriven offerings to boost volume amid subdued demand.

With a 2% downside from the CMP, we maintain our HOLD rating on the stock

With a 3% downside from the CMP, we maintain our HOLD rating on the stock.

Bata India (BATA) delivered a modest growth recovery with 2% YoY revenue growth. The 10% miss on EBITDA was primarily driven by lower gross margin (-140bp YoY) on account of a shift in the channel mix.

With a 5% downside potential from the CMP, we maintain our HOLD rating on the stock.

Bata India’s (Bata’s) Q1FY2025 numbers were weak, with revenues declining by 1.4% y-o-y, and EBITDA margin falling by 393 bps y-o-y to 21.2%, dragging down adjusted PAT by 27.5% y-o-y.

With an 8% upside potential from the CMP, we maintain our HOLD rating on the stock.

Recommendation: With a 5% upside potential from the CMP, we maintain HOLD

With a 5% upside potential from the CMP, we maintain HOLD